Government Planning Incubation Centres to Boost Sector

News:

• The Union minister of state for micro, small and medium enterprises (MSME), Giriraj Singh announced in Coimbatore that the government plans to set up 500 incubation centres for creating skilled professionals and entrepreneurs with Rs. 200 crore investment on private-public partnership model across the country in the next one year.
• We have 65 per cent of the Indian population below 35 years of age and only two per cent of them are skilled. These incubation centres will provide technical knowledge to them to make them skilled professionals or entrepreneurs.
• Pointing to the fluctuation in inflation and hurdles faced by MSME sector, he also said that a Bill had been moved in Parliament to raise the ceiling limits in three slabs: From Rs 25 lakh to Rs 50 lakh, then from Rs 5 crore to Rs 10 crore and Rs 10 crore to Rs 30 crore, but the opposition parties are opposing this bill.
• The MSME sector has 40 per cent share of industrial production in India. Large industries with Rs 11 lakh crore investment provides employment to 1.25 crore people while the 5.77 lakh crore MSME sector units give employment to over 14 crore people.
• The centre is also planning to establish 15 more new tool rooms with 3D technology that will provide hands-on training for workers by next year.
• The Centre is taking efforts to make MSME competitive through technological innovation.

Source: ET